A Caucasian man in the real estate business puts the finishing touches on a house he hopes to sell. He inserts an open house sign into the lawn of the front yard. Slight rain falls in typical Pacific Northwest fashion. Shot in Washington state.

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Fed Cuts Rates Again, Though Mortgage Rates Are Already Down

Fed Cuts Rates Again, Though Mortgage Rates Are Already Down

The Federal Reserve announced a 25-basis-point cut to the federal funds rate at the conclusion of its meeting on Wednesday, Oct. 29. The bankers had shifted into rate-cutting mode back in September with a crop of the same size. A basis point is one one-hundredth of a percentage point, so today’s trim amounts to a...